Crude Oil Nears $130: Rupee Under Pressure, Inflation Looms for Common Man

• West Asia tensions could push crude oil to $130/barrel if Strait of Hormuz closes for over a week.
• India, a major oil importer, faces significant economic blow from rising crude prices.
• Escalating tensions could weaken rupee to 95-96 against dollar due to increased import bill and dollar demand.
• Higher oil prices will fuel inflation, making transportation and daily goods more expensive.
• While short-term rupee pressure is expected, long-term strengthening below 90 is possible once stability returns.